Finance

Finance

Azerbaijan-based banks ranking in terms of assets

24 February 2010 15:00 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. APA-Economics regularly provides ranking of Azerbaijan-based bank organizations for their various figures and financial performance.

The project aims to highlight banksâ€™ financial performance and update the public and potential investors. In the table below. bank organizations are ranked by assets in accordance with the available data as of January 1. 2010.

(mln. AZN)

Banks		Assets
1	International Bank of Azerbaijan	5 071.879
2	Kapital Bank	552.200
3	Bank Standard	521.387
4	Xalg Bank	504.264
5	Technikabank	467.818
6	Unibank	352.949
7	Bank Respublika	347.848
8	Pasha Bank	308.376
9	AccessBank	307.373
10	DemirBank	266.034
11	AGBank	239.551
12	Nikoil Bank	206.263
13	AtaBank	199.343
14	Zamin Bank	187.690
15	Bank of Baku	187.396
16	YapıKredi Bank Azerbaijan	153.492
17	Mugan Bank	150.429
18	Bank of Azerbaijan	146.479
19	Royal Bank	144.606
20	Azerbaijan Industry Bank	130.639
21	Turanbank	109.938
22	Rabitabank	103.736
23	Amrahbank	101.811
24	Parabank	88.571
25	Azerneqliyyatbank	71.317
26	Kredo Bank	64.992
27	Azer-Turk Bank	57.281
28	Birlik Bank	53.155
29	NBCBank	44.659
30	Melli Iran Bank - Baku	42.644
31	United Credit Bank	42.080
32	Bank Avrasiya	40.744
33	Gandjabank	38.894
34	Atrabank	37.209
35	Kafkaz Development Bank	35.789
36	Deka Bank	32.434
37	Gunaybank	31.390
38	Azerbaycan Kredit Bank	28.941
39	Kovser Bank	17.705

Only 39 of 46 banks operating in Azerbaijan are ranked in the table because others rejected relations with media, declined to publicize their financial performance and put forward other types of subjective reasons not to submit figures.

As expected, International Bank of Azerbaijan (IBA), the largest bank of Azerbaijan and the region, ranked the first in the list.
With a 50.2% state-owned stake, IBA achieved the leading role because of large coverage throughout the country. dynamic growth and other objective reasons.
IBAâ€™s assets reached $6.317 billion in dollar equivalent.